Why high-end housing in Berlin differs from London and Paris

Written by Engel & Völkers on 13.11.2014

Berlin is on trend at the moment. The German capital is attracting creative and cosmopolitan types from around the world, and is regarded amongst international investors as a safe haven. In terms of property prices however, there is still plenty of upward scope, unlike other European cities such as London and Paris. The renowned British newspaper “The Financial Times” throws the spotlight on this growing market and spoke with Sebastian Fischer, Licence Partner of Engel & Völkers Berlin-Mitte:

According to Sebastian Fischer, managing director of the Berlin branch of Engel & Völkers, “although the steep growth rates in prices in the luxury residential sector over the past few years have slowed down, international buyers are still keen to own a part of Berlin, as are wealthy Germans based in the provinces. Compared with other global cities, homes in prime locations are relatively good value”. Fischer says his agency’s top group of buyers of high-end homes in Berlin are Russians, followed by nationals of southern European countries and North Americans. “The very high-end segment here is an extremely small part of the general market and buyers are only seldom people living in Berlin generating their incomes locally,” he adds.